KeyCorp (KEY) has disclosed a new risk, in the Supply Chain category.
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KeyCorp faces significant risks due to its reliance on third-party vendors and their downstream service providers, which perform crucial operational services. Despite having a third-party risk management program, KeyCorp does not control these entities, making it vulnerable to their potential cybersecurity breaches, financial distress, or operational disruptions. These risks are exacerbated by some third-party operations being overseas, exposing KeyCorp to region-specific challenges. Additionally, regulatory requirements on third-party management add complexity and cost, while failures by these service providers could lead to reputational damage, increased business costs, and potential legal actions against KeyCorp.
The average KEY stock price target is $20.77, implying 22.68% upside potential.
To learn more about KeyCorp’s risk factors, click here.
